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tv   Your World With Neil Cavuto  FOX News  October 28, 2011 1:00pm-2:00pm PDT

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final bell is tolling so time for "your world," with neil cavuto. thank you for checking in. see you tonight on follow report. >>neil: the white stuff is coming down. now. and how. extreme storm is set to slam the northeast and extremely early as texas and colorado are still digging out of their mess. get ready. no matter where you live this one is going to have you digging democrat. welcome, everyone, glad to have you. i am neil cavuto. days before halloween we are looking at something very scary. wicked weather in a wicked part of the country. rick on who is getting hit next. and will cities be ready for
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this in and joe with how bad the weather will be to come, and bill on why this winter will make your wallet scream. we begin with rick in the weather center. rick: the storm that brought denver and amarillo storm is pulling to the east with snow in west virginia and heavy rain and the storm is getting doing when it moves offshore and it will develop quickly interest a nor'easter tonight and tomorrow. look at this. winter storm warnings without you see the pink across western massachusetts and vermont and connecticut and a big strip across much of pennsylvania and toward west virginia and virginia. a lot of snow falling across interior sections by october standards with 6" to 10" and the cities that did not get snow, we saw snow yesterday in interior sessions and rain across the coast, this is going to see snow mixing in with this and we will likely see snow fall
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accumulating 1" to 3" and boston, maybe 1" to 2" and philadelphia 3", and interior sections getting the bull's eye of this but you do not see this often, three times in new york city where we had snow in october and this the be will biggest snow fall we have ever seen in october. >>neil: massachusetts taking the brunt of the first season and over the weekend it could get worse. maybe much worse. and now on the phone from boston. this storm coming as a bit of a surprise. >>guest: it is scary. i hate to use that word on halloween weekend, but, listen, here in boston we are prepared for whatever mother nature happened to drop our way. we are told, 1" to 3" in boston. the record in boston for snow is 1.1" in october. that's the record. we expect to break the record.
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but the big amount of snow that will come our way is out in the central part of massachusetts and they will get nailed up to 6" to 12" of snow. it is just not fair! >>neil: also incredible, it is just too soon. you gives are no stranger to the white stuff and all, but why think around this time of the year. >>guest: it is very rare. not usual to have a dusting of snow before halloween but when you start talking about 3" to 4" of snow in the city of boston and 6" to 12" of snow in central massachusetts, some towns have it very rarely. what is not happening, the stores where they sell snow blowers, if you did not get one by new, you are too late.
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>>neil: you have a good attitude. and i know of course new englanders hardy lot. best of luck to you. >>neil: in the meantime fox business network, showing it will be a wild winter and now, young gentleman self said that, remember, back in the early day of the summer. wicked scary. wicked stuff again. what is going on joey? >>guest: well, this storm we have to look at it differently than regular winter storm. the problem is the trees are still in almost full bloom in blazes that get accumulating snow and you only need 2" or 3" and the trees and power lines come down. we could have as much tree damage with this storm as we did with irene, 25 million people under a winter storm warning and 20 percent to 3 percent of the
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people could lose power and when you lose power in a winter storm situation with two or three or four nights piling up on you it is a very different story than what happens in the summer, so the big problem is 2" or 3" of snow, in the suburbs of new york, with 20 miles per hour wind, down come trees and power lines, there is in question, though, about the extremeness of the storm relative to the season and what is interesting, is the atmosphere temperatures between 8,000 and 25,000 feet are at record cold levels for this time of year so it is case where the atmosphere is seen ahead of the season. >>neil: if that is the case, it means a heck of a winter but more to the point does it mean areas better get used to or just more of it? >>guest: winter will be off to a fast start because we have had
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a warm october. we have had a lot of action in the tropics and if you look at 50, 54, 55, 2008 and 2010, they have similarities as far as what was going on in the tropics in the month of october, warm until now and bang, the cold air comes. but, remember, the southern and eastern part of the united states winter could disappear after we get by december this year, i don't think you can take one storm and say, well this is a sign of this or that. you have to look at the totality of the weather pattern. certainly there will be a lost cold air available to come southeast into the united states and it is a second year of la nina but it sets up a band for colorado and east and northeast into the northeast part of the united states where there will be a lot of battling going on. but as far as destruckive storms and the economic impact?
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this could be the worst storm of the season simply because of the power outages and trees that will be down from west virginia have up into new england and mainly north and west of the big cities. >>neil: have a lovely weekend. as the snow comes down, home heating prices are going up. millions will see a $200 hike at a minimum of the home energy bill this winter, at a minimum. and if my other guest has it right, you better log in the heating prices now. phil: we cast a spell on new england because of the snow and they heat their homes with heating oil and that is where i have a problem. that is where we could see record high prices this winter. if we get a cold winter watch out, baby, your wallet is going to be empty quick. so i am telling you in the notes and you are worried about a cold winter, cap the heating oil
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prices because they could absolutely explode. so, i am concerned about the northeast. and the midwest, though, i actually have some good news, the department of energy is actually wrong i think, there is a possible that unless we have the winter of all winters, that natural gas prices could actually be lower than a year ago. so, they are wrong on that and i hope i am right. >>neil: i will throw a question to you, have people been moving away from heating oil, period, and that it affects a smaller percentage of energy users? >>guest: absolutely, and it is dirty, more expensive, and it is not as efficient as natural gas. so people are getting away from that. and they should. because right now with the new technology we are the saudi arabia of natural gas, and the production numbers we have today from the department of energy, they are very, very encouraging.
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gas production went up and we have a record amount of drilling now, for shale gas right now, and i'm assuming we will see a glut of natural gas unless we get a very cold winter and the producers are probably praying for a cold winter because the prices could clap. if we build a few more pipelines, we should see a flood of gas come online next month and that will keep the prices under control. >>neil: but you work with a lot of crazy people. truth be told. they get acted up and crazy thinking, all right, it will be like snow am -- snow armageddon. who is to say they are not overreacting? >>guest: when you see anything white in the air the tendency is to buy but we coming from a low level, the price of natural gas is the lowest they have been and
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despite the impressive snow rally we saw snow, we are still in a downward channel and trending lower on prices. and, crazy or not, when the snow passes and the temperatures go back up, you will see the prices probably go back down. >>neil: thank you very much. and something tells me the president is not a lot worried about 2012. you know why? here is a hint. here is another one. we will connect. these dogs wake up too early!
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>>neil: what a week for the market. today, we saw a 3.6 percent advance in the dow similar gains this week for the nasdaq and s&p so we could point out that the dow with the gain this week on
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the way to score the best october. ever. keep in mind the exchange dates back 115 years. so, for october, so far, this would be unless there is a complete reversal on monday, the best october in market history. we will keep you posted. and meantime we got this, rocking presidential elections, a third party candidate and a new push for a third party candidate right now, thero americas elect 2012 holding online challenger to be placed on the state every state every ballot. would that be a game changer for 2012? we go to a political guru, larry sabato. they want a moderate, someone to
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bridge the conservatives and liberals but who, i imagine, would likely hurt the incumbent, or, this this case, this year, the republican. right? >>guest: it depends on who it is. they are beginning to have a couple of problems. this is easier said than done to pull this off. second, they will fines i think, that most of the prominent people in both parties are beginning to withdraw their names at the point if this process which they are allowed. for example, at the love people are pushing hillary clinton, signing petitions for her to be the americans elect candidate. there is not a chance in this world she will let that go failure. and no politician who want as future in either of the major parties would either let his or her name go on the ballot as a nominee of americans elect. it would be the end of their partisan career. >>neil: but it has been less and others have risked less to make a point and teddy roosevelt
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comes to mind when he challenged taft for the nomination and opened the door --. >>guest: he killed taft. roosevelt split the republican vote and roosevelt finished second, took enough votes away from taft to elect wilson and he got in with 4 percent of vote, so, that is how a two determine democratic administration came to be tone 1912 and 1920. >>neil: what about the harry true pan situation, with thursday monday -- thurmond. >>guest: truman had a challenger from the right, thurmond, and a challenger from the left, henry wallace, and they both took a lot of votes from truman, but truman still won, and he had a good economy and he inherited the new deal coalition from roosevelt but he got less than a majority and
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that made the second term more difficult. >>neil: we remember the famous headline. george wallace was the first real modern era successful third party candidate, do you think that he cost humphrey the presidency? >>guest: no. no. if wall has had not been in the race, if he did not take the 13 percent he did, nixon, the republican, would have won a large majority, probably about 55 percent. >>neil: so he divided the conservative vote. >>guest: he nearly cost nixon the election they both got 43 percent of the vote. >>neil: people forget john anderson, former republican, in 1980 who challenged ronald reagan, how did that affect the 1980 race. >>guest: he took more votes
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from cart than he did reagan but if he were not in the race, he got 7 percent, if he were not in the race, ronald reagan would have won by 53 percent to 54 percent, reagan got 51 percent and carter got 4 is percent so anderson in the end did not make a difference and he actually reduced reagan's majority. >>neil: what i remember very clearly the ross perot example and that has been one to debate for the ages. did he hand the white house to bill clinton and deny george bush sr. re-election? what do you think? >>guest: the studies of that race are divided about the effect. personally, i think he did have a major impact in cutting loss millions of voters from george h.w. public, president bush in 1992. he made them available to bill clinton. by turning them off to george h.w. bush and he ended up getting 19 percent.
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he did better than any third party candidate in the 20th or 21st century but for roosevelt. >>neil: they do not is to score well nationally to inflict severe damage. ralph nader comes to mind with the 2000 presidential race? >>guest: great example. 3 percent of the vote for nader and he took just enough votes away from gore in new hampshire and just enough votes away from al gore in florida to allow george w. bush to win the presidency even though he lost the popular vote by 540,000 so the electoral vote is only thing that matters. >>neil: quickly, ron paul is not completely shut the door on a third party run. if he were to do something like that would that automatically be damaging to the republican nominee? >>guest: probably. i think he would take more votes certainly away from the republican than the democrat and of course last night on fox he
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absolutely refused to give a statement that he would not run as an independent. he has already been the libertarian nominee for president in 1988 running against verge h.w. bush so he has done it once and he can do it again and giving up his congressional seat, what does he have to lose. >>neil: so it could be the republicans grabbing defeat from the jaws of victory? >>guest: it could be. it is awfully early. the people want to make a change they will make a change regardless of how many third party candidates are on the ballot. >>neil: thank you, professor. a major print maker is cutting become. think the president's latest plan will get hiring hot again? the huckabee says "no way."
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>>neil: and whirlpool tries to keep the prices down, and the president is on it, helping businesses find information on federal programs if they need it and the government has no plan or no love for this plan. and governor huckabee joins. if indoubt, set up a website. >>governor huckabee: there must be 1,100 families in arkansas that lose jobs. those are good jobs for the area and good jobs for arc. they had a big expansion a few years ago and the jobs will disappear. those families are not looking for a website but they will look for a job. the kind of economic realities
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we are facing now demand a great deal more than an executive order and a website and, hopefully at some point the president may look at his own policies and recognize they are not working. >>neil: well, maybe we did, governor, "pass my jobs bill," i had a democratic congressman here saying, yesterday, first priority, pass the president's job bills. >>governor huckabee: if he wants to pass it he can pass it in the senate. why doesn't he? he does not have enough democrat votes in the senate to pass it in its existing form. that is total nonsense. he blames the republicans. but the republicans can't stop it in the senate. and the fact is, if he is serious about it, lay it on the table get harry reid to put it on the senate lore and let republicans and democrats be on record. let it go to the house. john boehner would let it go up for a vote and let people be counted whether they believe spending more government money
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we don't have, borrowing more money from china, which we cannot afford to pay back, will create a single american job. what whirlpool did was shed $400 million of costs which is what every employer does when the market is soft and they have to figure out a way to try to keep their product alive and their brand alive. the problem is, a lot of the families like the folks from my home state would lose their jobs, they are the ones who take it in the teeth on a day like today. >>neil: you probably have seen the political piece that the administration is confident the trend is their friend, but it was essentially, the numbers are not gang buster but we are no longer going bust. >>governor huckabee: there are a few good signs, not great signs but better than they have been, but it is almost like, you know, the guy who jumps off 100-story building and at the 73rd floor he says "so far, so
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good." that is what i think sometimes the administration is feeding us. each week we have 400,000 new unemployment claims. that number seems to be frozen as if it is in the throes of antarctica. people are afraid to hire. so, i am just not quite as excited as the administration is, so, i do say every bit of good news at this point is good news and we welcome it. >>neil: we had a good market week and others are saying this could be a turn around and those who think it is a barometer of things to come, with 4 percent this week, and it will be the wind at the economy's bang. what do you say? >>governor huckabee: a lost it was the result of particularly chancellor america
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-- chancellor merkel taking strong action and bringing substance forward. i believe it was you telling angela how to handle it that made it work. >>neil: so, you are right, that was the big --. >>governor huckabee: i believe that is why the stock market went back do 12,000 not because people are in new york singing "happy days are here again." >>neil: ron paul is not ruling out a third-party run. but, what would happen if he did? >>guest: we would re-elect president obama as president for a second term because ron paul doesn't have to get enough votes to win, which he would not. >>neil: but he has done it before. >>governor huckabee: but no one knew who he was. he has a good following.
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he only has to get 2 percent or 3 percent or 4 percent, and likely would do that. >>neil: like a ralph nader. >>guest: if he gets enough to shake off some of the republican vote, president obama, i believe, would be re-elected to a second term notwithstanding how good the republican is. >>neil: quickly, governor, rick perry may not be participating in anymore debates. what do you say? >>governor huckabee: this is not the american league and baseball you do not get a designated player to play the game. if he cannot be on the stage, saying he is not a good debater, it is like saying i cannot compete at this level, i want to be president but i don't have the pathway. it was a disaster on his part, even if he did not debate the dumbest thing the campaign could do is to announce he didn't thing he could do that because he wasn't good at it. >>neil: is there wisdom to
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limiting it, jimmy carter granted him one debate, only one, but that can make a difference, but these debates, i love them to death, and i will participate in the next one, but there are a lot of them. >>governor huckabee: there are. the candidates have a right to pick and choose. i would not go on senator debates if i were some of the candidates because the forum is not a forum. >>neil: so what he is saying there are so many of these, but it will not jibe. >>governor huckabee: are they substantive and do the hosts have a forum for ideas or is this, essentially, a dog fight. >>neil: good stuff. >>governor huckabee: excuse me, tomorrow we have toby keith and an interesting discuss with
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a market expert and we will analyze what you say. that is the authority we lean on. >>neil: this is why you should be president you can hop, skip and jump over the issues. with calls for holier's -- holder's resignation heating up, what will happen? and you have seen these goes called 99 percent, did you meet the folks behind the 53 percent? who is doing more for the nation right now? we will report. let you decide. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more.
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>>neil: the number of republican lawmakers demanding that eric holder design, doubling, overnight. he is accused of lying testimony when he first heard or learned of the controversial "fast and furious," program. a republican congressman is among those saying, time to go. good to have you, congressman. we have not heard from eric holder yet. should we hold off until we do? >>guest: well, he will come to congress. on december 9. i believe the week of december 9. he will testify before a joint committee of both the judiciary committee and the government oversite and he will answer questions on why he misled
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congress. >>neil: let him answer. you are calling for resignation and he has not answered. >>guest: he came to congress and should have been prepared. he knew we were investigating the "fast and furious," investigation. and he knew we were investigating the operation. and what he did, he came to congress and said he didn't know anything about it and he had five memos that had discussed the issue and i think it is important for him to explain why he didn't take the time with the staff to figure out what his office knew. >>neil: i understand where you are coming from but if we demanded resignation for every public official who was a little late learning of something, all of washington would be empty. i am not trying to take sides but i am saying this growing movement to call for his head, requires, first, some cooler heads, does it not? >>guest: well, we have had cooler heads. we have been investigating this
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for nine months. i waited until we had evidence that he actually knew there were five memos that came to his office and that he went before congress and he was asked to the on one occasion, but was asked on two separate occasions if he knew anything about the "fast and furious," and he said he didn't know anything and we have five memos that say he did know something. >>neil: congressman, do you remember when people used to say this about rums field on the weapons of mass destruction and c rise, they, too, demanding the officials resignation when there was talk of memos and there were found later to be memos. i am not saying they were justed in the attacks but just saying there does seem to be a political spin to this and i wonder if this time, the republicans should do what they
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advocated democrats should have done, digest all the information. >>guest: i think that is why it is important he come to congress and answer the questions. >>neil: but you don't want him to do that, you want him to leave before he can. >>guest: i want him to leave because he lied or was grossly incompetent. when you know you are going before congress, i have no problem with someone like him not enjoying the memos on his desk because he gets thousands of memos memos and he does not t all of them but he was coming to congress to answer questions and he should have sat down with the chief of staff and everyone else and tried to figure out what the office knew. and he failed to do that. so, why did he fail to do that? what was he try to have? to have deniability? these are the questions that are important. and he knew theses with going to be asked the questions of the program, and you need to understand, we all make mistakes, but this is a program
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that actually caused the death of a border patrol agent. >>neil: i know that but, remember, remember, remember sir what you were and your party saying about the democrats filing on all the officials during the gulf war early days in iraq, saying, much the same thing, justifiably so, but i think, you know, probably a call department. >>guest: they came, i think we need to make sure we know what he knew at the time. when did he know it. >>neil: but you are not granting him that right. you want him out now before he answers. >>guest: i think it is important that he leave. and there are many other problems. he has a long history of coming to congress and not telling us the truth. >>neil: thank you very were. >>guest: thank you for your time. >>neil: you think this mess is slowing the solar spending? think again. congratulations.
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>>neil: the white house ordering an independent review of the energy department's portfolio in the wake of solyndra and confirmation that the energy secretary will testify before congress on that scandal. we are lending the obama administration is now identified 17 new sites as prime candidates for the new solar project and my guest says it is time to stop throwing good money after bad. and now my guest is from the cato institute. still going forward with the post solyndra solar push and i wonder to what degree? you thing we should seats and -- we should cease and desist? >>guest: why are we throwing good money after bad. the 17 sites cover a massive area of california it is a tribute to inefficiency of solar power. >>neil: what are they doing? >>guest: they can not have very many endangered species in
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them. you could remember a big wind farm in pennsylvania was shut down because it killed an indiana bat and they can not have much civilization. basically these are places where you can hang a sign and everyone knows this is nowhere. put solar panels here. >>neil: okay. well the bat family was upset, that is what we know. where does to go? obviously, it sounds like they are trying to get these things up and running, arguing that the solyndra days was unique and an another promising rule. and, they are pushing this and by and large they get their way. where does it go? >>guest: well, what they are doing is doing what people like to do in washington, which is spend other people's money on things that they thing are important. it will continue to hemorrhage money. an example. in the state of washington, there was a facility that was
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proposeed, a solar reserve, supposed to be the biggest solar site in the world. you want to know how many homes it would power? 45,000. is that all you get for the biggest solar facility in the world? it is wildly inefficient and until somehow that inefficiency is corrected and why think it can be, it is going to be a money loser all the time. >>neil: there is no one to stop them on this? or go slow? and says first of all, whether we fund any futures solyndras or pushing, you know, more federal tax dollars after albatross, nothing at all. >>guest: it is hard to stop perceived virtue out of the washington, dc especially when there is a strong lobby. the energy and solar and windenergy are extremely powerful much more so through politics than the generators and they have a lot of pull in town.
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hard to get out of this issue. >>neil: thank you very much, pat michaels. and how about occupying, protesters, a job? a new grope hoping to do a "job" on the guys hype this one. it's notust good for business. it's good for the entire community. at bank of america, we know the impact that local businesses have on communities. that's why we extended $7.8 billion to small businesses across the country so far this year. because the more we help them, the more we help make opportunity possible. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years, we've been inspired by you.
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incredible jaw saw for just three easy payments of only $39.95 that's an amazing offer on an the jaw saw will save you more time and allow you to do your jobs faster and safer than ever before. call the number on your >>neil: they say it represents 99 percent of the nation but look at the growing number of americans telling the occupiers to just, "stop it." a new movement called the 53 percent that is growing each day online consisting of the 53 percent of american whose pay federal income taxes and feel the need to share their stories of hard work and personal
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responsibility. and my guest is one. josh, how is this being received so far? >>guest: well, it has been really interesting. we have had a tremendous response from across the country. it started as a lark with a few friends late at night two weeks ago thought we would put up 53 percent website to spend to the so-called 99 percent, and sense then it has exploded. we are getting up to 2,000 submissions at this point, so what you see on the site is only a fraction of those who have sent in their stories. it has driven the so-called 99 percent up the wall. they hate it which is an indication of the efficacy. >>neil: you know this inside and out, but 53 percent refer to the number of american whose pay income taxes versus 47 percent who do not. the 47 percent will say well, we pay payroll taxes but comparing apples to apples and the 53 percent that feel they are ignored and at the love the
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attention is focused on those who want more from the system versus, i guess you are saying those with pay for that system. right? >>guest: well, in a sense, and i want to clarify this is not really a pac protest but so do not get stuck on the 53 number. that is a figure that is not credited to me. >>neil: what does it refer specifically to, then, josh? >>guest: well, specifically, you had it right, specifically it refers to the proportion of american adults who pay the federal income tax but we use that as a metaphor for responsible citizenship and folks who make their own way through the world, the philosophical difference between the 53 percent and the 99 percent. they advocate victimhood, there is a victim of forces beyond their control and the 53 percent say times are tough, but they believe in the american dream and the virtues of hard work and individual responsibility and personal memberty, and, that deserves a hearing. >>neil: it also deserves a
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rally. nothing is great in this country without a rally. tea party protests, all across the country, and we see the 99 percenters everywhere. what about you guys? >>guest: what about us in terms of a rally? well, why thing, well, maybe, we will see where it leads in time. but the 53 percent are not the type to take to the streets. we have families. jobs. likes. we work hard. >>neil: but so did the tea partyers. so did they. they brought the kids with them. >>guest: i will tell you the tea party, i think, are a wonderful example of what can be accomplished by this same demographic and i am a huge tea party supporter. lock, i will tell you, as someone you have had tea party experience and so have i and the tea party, you have to organize them when the kids are maybe available or out of school, or when work is not happening so we
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are different, we are not the type of folks to camp in a park weeks on hand. >>neil: i have experienced covering them but not necessarily marching but i have also coughed the "occupy wall street," rallies and their argument, something which maybe your members could find common ground, is that the system is making it tougher to succeed. this frustration with the system that it might be rigged against those who are trying to succeed. where do you draw your line between that message which tends to get moruloid and raucous versus your message? >>guest: look, i think it is important to understand that the so-called 99 percent and the occupy folks buried if their grievances, there are some truths. there is too much closeness between big business and government. and education is ludicrously
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expensive. we are going through hard economic times. these are valid concerns and come minutes. and everyone, no matter your speaker situation, is suffering. what differentiates them from us is the element of personal responsibility. where the draw the line, you draw the line at the point we don't go to the place where they have gone which is the greater forces are aligned against us. they have what i describe as a continent european mindset, life is a series navigations between institutions. we adhere to the traditional american view of the world, that you are the captain of your destiny and the ultimate author of your faith, and that is yourself. >>neil: very well put. thank you, josh, very much. let us know how you do. mb thing?
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♪ >> neil: you know, finally, this is the week we're told that europe kind of came back to life. this is also the week we learned that bernie and ruth madoff came very, very close to ending their life. swallow the big pill to fight another day. ruth madoff am byien pills a few years ago. so she and hubby bernie wouldn't see any more days. europe is alive and well and so is ruth and bernie. bernie is in prison and ruth in what she calls a mental prison. but then again, they're still breathing, aren't they? europeans are still hanging on, aren't they? sometimes it's weird how events go down the same week. the wife of someone who swindled so many try to sound convincing and the leader of a struggling continent try to sound determine. the wife's words ring hollow and europe's own past rings. but neither public image is
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that great. but they each try to convince the world they deserve to be thought of better. it's too late for ruth. i suspect it's still time for europe. all i know, it has been one heck of a week. who could blame anyone for wanting to take ambien? not to end it all but sleep it off. in one hour, we have president obama's former senior economic advisor austan goolsbee. do you reach for ambien when you hear the administration argue the things are just fine and getting better? we urge to watch the broadcast. and for those who don't get fox business network. think of what you need, what you are not getting. so you don't get fox business? >> ♪ demand

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